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          UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                        Washington, DC 20549

                             FORM 10QSB

[X]  Quarterly Report Pursuant to Section 13 or 15(d) of the
     Securities Exchange Act of 1934
     FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2000

     OR

[ ]  Transition Report Pursuant to Section 13 or 15(d) of the
     Securities Exchange Act of 1934
     For the transition period from           to

                  COMMISSION FILE NUMBER 000-30065

                      IRON MASK MINING COMPANY
       (Exact name of registrant as specified in its charter)

IDAHO                                   Unavailable
(State of other jurisdiction            (IRS Employer Identification
of incorporation or organization)       Number)


                         656 Cedar Street
                      Ponderay, Idaho   83852
              (Address of principal executive offices)

                           (208) 263-3834
        (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the Registrant was required to file such
reports), and (2) has been subject to such filing requirements for
the past 90 days.
          Yes [ x ] No [   ]

Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of September 30, 2000: 22,187,316

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Board of Directors
Iron Mask Mining Company
PO Box 1713
Sandpoint, Idaho 83864


We have reviewed  the accompanying Balance Sheet of Iron Mask Mining
Company as of September 30, 2000 and the related Statement of Income
and Accumulated Deficit and Statement of Cash Flows for the three
months then ended, in accordance with Statements on Standards for
Accounting and Review Services issued by the American Institute of
Certified Public Accountants.  All information included in these
financial statements is the representation of the management of Iron
mask Mining Company.

A review consists principally of inquiries of company personnel and
analytical procedures applied to the financial data.  It is
substantially less in scope than an audit in accordance with generally
accepted auditing standards, the objective of which is the expression
of an opinion regarding the financial statements taken as a whole.
Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications
that should be made to the accompanying financial statements in order
for them to be in conformity with generally accepted accounting
principles.


Scott Beggs & Company, Inc

Scott Beggs & Company, Inc
Kellogg, Idaho 83837

November 13, 2000
















                                 -1-

<PAGE> 3
                      Iron Mask Mining Company
                   A Development Stage Corporation
                            Balance Sheet
                     September 30, 2000 and 1999

                                   2000           1999
ASSETS
Current Assets
 Cash in Bank                               710           73
 Prepaid Insurance                                       750
                                   ------------   ----------
 Total Current Assets                       710          823

Property and Equipment
 Land                                                 87,380
 Buildings                                             1,032
 Equipment                                            46,176
 Accumulated Depreciation                     0      (47,208)
                                   ------------   ----------
Net Property and Equipment                    0       87,380
Total Assets                                710       88,203
                                   ============   ==========

LIABILITIES AND EQUITY
Current Liabilities
 Accounts Payable                        19,950        1,419
 Interest Payable                           970
 Notes Payable - Due within
  One Year                                            28,355
                                   ------------   ----------
Total Current Liabilities                20,920       29,774
Long Term Liabilities
 Notes Payable - Due in more
  than One Year                          12,748            0
                                   ------------   ----------
Total Long Term Liabilties               12,748            0

Total Liabilities                        33,668       29,774

Equity
 Common Stock, par value $ .005,
  authorized 100,000,000 shares,
  issued and outstanding
  22,187,316                            830,366      799,366
 Additional Paid in Capital             215,936      215,936
 Deficit accumulated during
  Development Stage                  (1,079,260)    (956,873)
                                   ------------   ----------
Total Equity                            (32,958)      58,429
Total Liabilities and Equity                710       88,203
                                   ============   ==========

See the accompanying accountant's report and notes, which are integral
                parts of these financial statements.

                                 -2-

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                      Iron Mask Mining Company
                   A Development Stage Corporation
             Statement of Income and Accumulated Deficit
      For the Three Months Ended - September 30, 2000 and 1999

                    Qtr Ended      Cumulative     Qtr Ended Cumulative
                    09/30/00       Total          09/30/99   Total
Income
 Interest Income            17         83,922            1    83,790
 All Other Income                      10,094                    375
                    ----------     ----------     --------  --------
Total Income                17         94,016            1    84,165

Expenses
 Professional Fees       7,450        112,847                 78,142
 Payroll Taxes and
  Insurance                866         50,688                 49,422
 Interest and
   Bank Fees               412         23,482           17    19,112
 Taxes and Licenses         30          7,873                  7,052
 Other                   4,620          8,953                  3,114
 Assessments            20,000         20,000                      0
 Right to Mine                         31,000
 Other Operating Costs                576,635                574,565
 Rounding                                   2                      2
                    ----------     ----------     --------  --------
Total Expenses          33,378        831,480           17   731,409

Net Loss               (33,361)      (737,464)         (16) (647,244)

Extra Ordinary
 Transactions-Acquistions
 See Notes 3 and 4                   (341,796)

Accumulated Deficit
 - Start of Year    (1,045,899)             0     (608,279)        0
                    ----------     ----------     --------  --------
Accumulated Deficit
 - End of Year      (1,079,260)    (1,079,260)    (608,295) (647,244)
                    ==========     ==========     ========  ========










 See accompanying accountant's report and notes, which are integral
                 parts of these financial statements

                                 -3-


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                      Iron Mask Mining Company
                   A Development Stage Corporation
                       Statement of Cash Flows
      For the Three Months Ended - September 30, 2000 and 1999

                            Year Ended  Cumulative  Year Ended  Cumulative
                              09/30/00     Total     09/30/00      Total
Cash Flow from Operating Activities
  Net Loss                   (33,361)    (707,912)          (16)  (615,092)
  Adjustments to Reconcile
   to Net Cash
  Depreciation Expense                     47,208                   47,208
  Loss on Sale of Land                        452                      452
  Changes in Operating Assets
 (Increase) Decrease in
   Prepaid Insurance             750                                  (750)
  Increase (Decrease) in
   Payble Accounts            17,227       20,920                    1,419
                         -----------    ---------      --------  ---------
Net Cash (Used) Provided
  by Operating Activities    (15,384)    (639,332)          (16)  (566,763)
Cash Flow from Investing
 Activities
  Sale of Land                             73,397                   15,568
  Purchase of Property                   (150,609)                (150,609)
                         -----------    ---------      --------  ---------
Net Cash (Used) Provided by
  Investing Activities           0        (77,212)          0     (135,041)
Cash Flow from Financing
 Activities
  Common Stock Proceeds                   704,506                  673,506
  Loan Proceeds               12,748       46,103                   28,355
Loan Repayments                           (33,355)          0          0
                         -----------    ---------      --------  ---------
Net Cash (Used) Provided
  by Financing Activities     12,748      717,254           0      701,861
Net Increase (Decrease)
  in Cash                     (2,636)         710           (16)        57

Cash - Start of Year           3,346          0              73        0
                         -----------    ---------      --------  ---------
Cash - End of Year               710          710            57         57
                         ===========    =========      ========  =========







See accompanying accountant's report and notes, which are integral parts of
                       these financial statements.

                                   -4-

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Iron Mask Mining Company
A Development Stage Company

Notes to the Financial Statements
September 30, 2000

NOTE 1:   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Development Stage Company - General Accounting   In June 1975, the Financial
Accounting Standards Board (FASB) issued Statement of Financial Standards No
7 effective for fiscal periods beginning after January 1, 1976, for companies
in the development stage.  That statement requires that such companies follow
the same accounting practices as operating companies and, thus, defer only
those costs which an operating company would normally defer and that dollar
amounts be assigned to shares issued for noncash considerations.

Development Activities  The primary business purpose of the Company is the
purchase and development of mining properties.  The realization of profits
and recovery of development costs are dependent upon increased market values
and the recover ability of the minerals of the Company's properties.

Cash and Cash Equivalents  For the purpose of the statement of cash flows,
the Company considers all highly liquid debt instruments with a maturity of
three months or less to be cash equivalents.

Notes Payable   The Company had various notes payable to individuals.  These
notes are to Bob Evans, Gerald Sarff, and Bob and Don Delany in the
respective amounts of $5,476, $4,867, and $2,405.  These individuals are
related parties to Iron Mask Mining Company.

Income Taxes   The Company files its corporate income tax returns as a
development stage company.  Accordingly, all income and expense items are
being capitalized as development costs.

NOTE 2:   CUMULATIVE DATA

Cumulative data has been recorded on the Statement of Income and Accumulated
Deficit and the Statement of Cash Flows.  The cumulative data is from May 1,
1957, the date of organization, to September 30, 2000.  Also included in
Deficit accumulated is the amount incurred by Yellow Pine Resources Inc.  See
Notes 3 and 4 for more information.

NOTE 3: ACQUISITION AGREEMENT YELLOW PINE RESOURCES INC

The Company entered an agreement with Yellow Pine Resources Inc to acquire
all of the outstanding shares of Yellow Pine Resources Inc in a stock for
stock exchange.  After concluding the transaction, Iron Mask Mining Company
owns 100% of the outstanding stock of Yellow Pine Resources Inc.    Iron Mask
Mining Company issued 6,000,000 shares to the shareholders of record of
Yellow Pine Resources Inc.  Iron Mask received $341,796 of capitalized
development costs and the applicable mining leases and other assets of Yellow
Pine Resources. $300,000 has been included as Common stock and $41,796 as
additional paid in capital.

                                   -5-
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                        Iron Mask Mining Company
                       A Development Stage Company

                    Notes to the Financial Statements
                           September 30, 2000

NOTE 4: CONSOLIDATION INFORMATION

Included in the deficit accumulated during development stage activities is
$341,796 incurred by Iron Mask Mining Company's wholly owned subsidiary
Yellow Pine Resources Inc.  See Note 3 for more information concerning the
acquisition of Yellow Pine Resources Inc.

NOTE 5: LAND SALE

During the year ended June 30, 2000, the company sold some land.  This land
was acquired in approximately 1957 and the recorded book basis was $132,588
for land, buildings, and equipment.  The buildings and equipment had been
fully depreciated over their useful lives, and were either included in the
sale or had been discarded over the years and not recorded.  The Company
currently does not own any real property, improvements, or equipment.  The
sales price for the land, net of selling expenses was $57,829.  The loan from
Montana Land Investments LLC, plus interest, was paid directly by the title
company.

NOTE 6: AMERICAN DIATOMITE LLC AGREEMENT AND RELATED PARTY ACTIVITY

In May of 1999, Iron Mask Mining Company entered into an agreement American
Diatomite LLC.  Under the terms of this agreement, Iron Mask Mining Company
issued to American Diatomite LLC 6,200,000 shares of restricted common stock,
par value $0.005.  Iron Mask Mining Company received in exchange for this
stock, the right to mine and develop of property currently owned by American
Diatomite LLC.  There is a provision for an option to purchase in 5 years.

Two of the principals in American Diatomite LLC also serve on the board of
directors of Iron Mask Mining Company.  Thus, the agreement with American
Diatomite LLC is considered a related party transaction.  This transaction
has been recorded as a credit to common stock of $31,000 and a Right to Mine
operating expense.  The value of this transaction was recorded at par value
for the stock.














                                   -6-
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ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
          RESULTS OF OPERATION

     The Company is a mining company engaged in exploration and development
activities.  The Company is pursuing opportunities within the mining industry
as well as other industries.  The Company filed Form 10-SB General Form for
Registration of Securities with the Security and Exchange Commission on March
22, 2000.  The Company's registration became effective on April 26, 2000.
Pennaluna and Company has made formal application with NASD (National
Association of Security Dealers) to list Iron Mask Mining Company's stock on
the electronic bulletin board.  Public trading will begin when and if the
application is approved.  The Company expects its shares will be listed on
the bulletin board exchange before calendar year end.  The Company's fiscal
year end is June 30th.

OVERVIEW

     The Company was formed on May 16, 1957 and engaged in mining activities
from 1957 to 1991.  From 1991 to February 1999 the Company was inactive.  On
March 5, 1999, the Company acquired 100% of the stock of Yellow Pine
Resources, Inc., in exchange for 6,000,000 shares of the Company's common
stock.  On May 10th, 2000, the Company  entered into an agreement with
American Diatomite, L.L.C., to develop, mine and retain profits from 42
unpatented mining claims in exchange for 6,200,000 shares of iron Mask Mining
Company common stock.  The Company has a five-year option to purchase the 42
mining claims for $3,000,000 from American Diatomite, L.L.C.  The $3,000,000
purchase option price is exclusive of capital gains taxes incurred by
American Diatomite, L.L.C.

     Revenues

     The Company's revenues of $17 for the first quarter ended September 30,
2000 was derived entirely from interest income, compared to total revenues of
$1 from interest income for the same period in the prior year.

     Expenses

     Total expenses for the first quarter ended September 30, 2000 and
September 30, 1999 were $33,378 and $17 respectively.  In the current quarter
significant costs were related to the registration and filing requirements of
the Company's common stock.  Professional fees were $7,450 and zero
respectively and were related to the costs of registering the Company's stock
and SEC filings.  Interest expense on short-term loans was $398 and zero
respectively.  Taxes and license costs were $ 30 and zero for each period.
Insurance costs were $766 and zero respectively.  Assessment expense was
$20,000 and zero for each period.  Other costs were $4,620 and zero
respectively.  Amounts included as other costs were related to office
expenses, office supplies, travel and miscellaneous expenses.








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FINANCIAL CONDITION

     Liquidity

Cash decreased $2,636 during the quarter.  Prepaid insurance decreased $750.
Accounts payable increased $19,600 due to assessment and professional fees
incurred.  Interest payable decreased $2,373.  The interest payable amounts
were added to notes payable to related parties.  Long-term debt increased
$12,748.  All long-term debt is owed to related parties.

     Capital Requirements

The Company's stock registration, listing, and subsequent offering will allow
the Company to raise the capital needed to pursue its long-term goals of
developing its gold and diatomite mining operation and other opportunities
identified by management.

PART II

ITEM 6.  EXHIBITS.

Exhibit No.    Description

27             Financial Data Schedule.


                               SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

     Dated this 14th day of November, 2000.

                              IRON MASK MINING COMPANY
                              (Registrant)



                              By:  /s/ Robert Evans
                                   Robert Evans, Vice President,
                                   Treasurer, Chief Financial Officer,
                                   and member of the Board of
                                   Directors